China Funding Upgrading of Manufacturing Sector

China will support 10 Key manufacturing projects in reconstructing and upgrading the sector until Y 2018, a notice by the National Development and Reform Commission (NDRC) said Wednesday.

The projects will aim to keep growth of value-added industrial output in the manufacturing industry above 7%.

Corporate investment in upgrades should average 15% annually after Y 2018, the notice said.

To drive a more advanced, smart, greener and service-oriented manufacturing sector, the government will support enterprises with a propensity for independent innovation and for using resources efficiently.

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